|Bid||6.57 x 2000|
|Ask||6.63 x 1200|
|Day's Range||6.41 - 6.65|
|52 Week Range||3.49 - 7.38|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||2.50|
The speaker of Brazil's lower house Rodrigo Maia said on Thursday that he is aiming for the body to vote on a bill containing the rules for how to privatize state-controlled power company Centrais Eletricas Brasileiras SA . President Michel Temer issued a provisional decree last year that changed the country's law to allow for Eletrobras, as the company is commonly known, to be privatized. A Supreme Court justice last week overturned a lower court's injunction blocking some parts of Temer's decree, removing a major legal roadblock to moving forward on selling Eletrobras.
The battle over privatizing Latin America’s largest utility hinges on a parched river winding through the dusty highlands of northeast Brazil.
Brazil on Friday froze 8 billion reais worth of government expenses for this year under a revised budget to account for potential delays in a plan to privatize power utility Centrais Elétricas Brasileiras ...
The chief executive officer of Brazil’s state-owned utility Eletrobras remains confident that a controversial plan to take the company private will succeed this year despite opposition from lawmakers and ...
Brazil's state-controlled power company Eletrobras aims to settle U.S. class action lawsuits before it begins what is expected to be the country's largest privatization in almost two decades, Chief Executive Wilson Ferreira Jr said on Wednesday. Investors in the United States have sued Centrais Elétricas Brasileiras SA (Eletrobras) after the company reported large losses related to a sprawling corruption scandal in Brazil.
Brazilian state-controlled oil company Petróleo Brasileiro SA (PETR4.SA) owes the government billions of dollars tied to offshore exploration rights but is unlikely to pay this year, a cabinet minister said. The government's 2018 budget does not include any revenue from the so-called "transfer of rights" area that has sparked a dispute with the company also known as Petrobras, Planning Minister Dyogo Oliveira said in an interview on Thursday. In 2010, Brazil exchanged offshore exploration rights for equity in Petrobras.
Brazilian state-owned power holding Centrais Elétricas Brasileiras SA has hired law firm Hogan Lovells to "resolve class action lawsuits" in the U.S., according to a note published on Friday ...
Brazilian President Michel Temer signed a measure that paves the way for the privatization of Eletrobras, Latin America’s largest power company, according to a government official.
Brazilian state-run power utility Centrais Elétricas Brasileiras SA will reduce its investments starting in 2018 to boost efficiency ahead of its planned privatization next year. In a securities filing on Monday, the company, known as Eletrobras, said its board had authorized investments of 19.75 billion reais ($6 billion) for 2018 through 2022. Eletrobras said the investments would be in power generation, transmission and infrastructure projects, directly or through special-purpose vehicles.
Facing a severe financial crisis, Brazil's state-run nuclear power concern Eletrobras Termonuclear SA may halt operations at two power plants in Rio de Janeiro, newspaper O Estado de São Paulo reported on Tuesday, citing a letter from the firm's acting chief executive. In the letter to power sector regulator Aneel last week, Leonam dos Santos Guimarães described the situation as "grave" and warned the company's Angra 1 and Angra 2 nuclear plants may interrupt power production by 2019 if nothing is done to solve the problem. Eletronuclear, owned by Centrais Eletricas Brasileiras SA , is highly indebted and in default on supplier bills, including providers of uranium used as fuel to generate electricity, O Estado reported.
Rating Action: Moody's affirms Eletrobras' Ba3 rating; changes outlook to stable from negative. Global Credit Research- 04 Dec 2017. Sao Paulo, December 04, 2017-- Moody's Investors Service, affirmed the ...
Brazil's deputy Finance Minister Eduardo Guardia said on Wednesday the government expects to send a bill to privatize state-controlled utility Eletrobras to Congress next week. Guardia said key details of the privatization process will be submitted to a shareholders meeting expected to take place next year. Voting rights will be limited to 10 percent for individual new investors, a way of ensuring Eletrobras will have dispersed share ownership after the privatization, Guardia said.
Brazilian development bank BNDES's chief executive said on Tuesday that the government is considering a two-stage privatization of state-controlled power holding company Centrais Brasileiras SA. Paulo ...
Brazil's lower house of Congress is likely to approve the privatization of power utility Centrais Elétricas Brasileiras SA by the end of the year, House Speaker Rodrigo Maia said on Tuesday. Investors ...
RIO DE JANEIRO (Reuters) - Brazil's state-controlled utility Centrais Elétricas Brasileiras SA will soon announce agreements to sell minority stakes in projects such as wind farms and power transmission ...
BRASILIA (Reuters) - Brazil's government has approved the privatisation model for the power distribution units of state-run company Eletrobras (ELET5.SA), Adalberto Vasconcelos, who heads the body overseeing ...
Brazil's Energy Ministry will send to President Michel Temer three bills within the next 10 days that will propose changes to electricity sector rules and will contain the model for the privatization of state-run utility Centrais Elétricas Brasileiras SA, an official told Reuters on Tuesday. The ministry will send the first of the bills, one dealing with the sale of distributors owned by Eletrobras, as the company is known, as early as today, said Paulo Pedrosa, Brazil's deputy energy minister. According to the official, the government plans to offer compensation to Eletrobras in exchange for proposed changes in its hydropower contracts.
, an official at electricity regulator Aneel told Reuters. The project in Rio Grande do Sul state requires roughly 3.3 billion reais ($1.0 billion) in investment and had originally been awarded to the Eletrobras unit Eletrosul Centrais Eletricas SA, or Eletrosul. Closure of the deal depends on Shanghai Electric accepting conditions imposed by Aneel, said Director José Jurhosa, who heads the agency's unit overseeing the case.
State Grid Corp of China and Centrais Elétricas Brasileiras SA will start commercial operation of a key power transmission line for Brazil's Belo Monte dam in December, two months ahead of schedule, an official told Reuters on Monday. "We are looking to complete the work in October, run tests through November and start commercial operation in December," said Newton Zerbini, head of a joint venture named BMTE, created by State Grid and Eletrobras to build the line.
The Brazilian government will not propose a transition of state-controlled utility Centrais Elétricas Brasileiras SA to the Novo Mercado segment of the São Paulo Stock Exchange, Deputy Energy Minister ...
French energy conglomerate Engie SA (ENGIE.PA) has appetite for more Brazil acquisitions, and will evaluate assets being sold by Eletrobras, despite spending more than $1 billion (755.29 million pounds) in a licensing auction last week, Engie's local unit head told Reuters on Wednesday. Brazil's state-controlled utility Eletrobras, or Centrais Elétricas Brasileiras SA (ELET5.SA), said on Monday it will soon kick-start its divestiture plan which includes stakes in dozens of projects, mostly wind parks and power transmission ventures. "We are open to opportunities, but always conservatively and with financial discipline," Mauricio Bahr, Engie Brasil's chief executive, said in an interview in Sao Paulo.
Brazil's President Michel Temer said on Wednesday that despite his government's aggressive privatization agenda, state-run oil company Petroleo Brasileiro , a symbol of national sovereignty, would remain under government control. Temer, speaking at a Reuters Newsmaker event in New York, also said that sprawling investigations that have led to corruption charges against scores of powerful figures - including him - show that Brazil's governmental institutions are independent and working well.
Brazil's state-run oil company Petroleo Brasileiro SA will inject 6.3 billion reais ($2 billion) of fresh capital into its fuel distribution arm, cleaning up its balance sheet in an effort to attract investors to an initial public offering. The money from the capital injection, approved by the board of the company and announced in a securities filing on Friday, will solve a long-standing problem with state-controlled power utility Centrais Eletricas Brasileiras SA. The capital injection solves the main hurdle to the initial public offering of the unit, Petrobras Distribuidora SA, according to a person with direct knowledge of the matter.
The Brazilian government's plan to privatize power holding company Centrais Eletricas Brasileiras SA will not lead to an increase in electricity prices, Mining and Energy Minister Fernando Coelho Filho ...